BREAKING: Petrol Price Rises Amid Naira-For-Crude Dispute With Dangote Refinery

Petrol Price has risen amid Naira-for-Crude dispute with Dangote Refinery.

 

NewsOnline Nigeria reports that petrol prices have reportedly gone up in Nigeria, with filling stations in Lagos now selling a litre for ₦930 instead of ₦860.

 

In Abuja and Northern cities, prices range between ₦950 and ₦970 per litre, increasing by about ₦70 to ₦90.

 

This price hike follows a decision by Dangote Refinery to temporarily stop selling petrol in Naira.

 

ALSO: Tinubu Under Pressure To Extend Naira-For-Crude Deal To Avoid Fuel Price Hike

 

The refinery explained that it buys crude oil in US dollars but was selling fuel in Naira, causing financial issues.

 

Until it receives crude oil from the Nigerian National Petroleum Company Limited (NNPCL) in Naira, it will continue selling in dollars.

 

The refinery and NNPCL have been in a price war, with Dangote reducing petrol prices earlier, forcing NNPCL to lower its prices as well.

 

NewsOnline Nigeria recalls that the Nigerian government had previously instructed NNPCL to sell crude oil to local refineries in Naira to stabilise fuel prices, but the agreement expired in March 2025.

 

Nigeria has faced fuel shortages and high prices since the government removed fuel subsidies in May 2023.

 

The country relies on imported petrol since its state-owned refineries have been inactive for years.

 

Dangote Refinery, launched in 2023, is expected to reduce reliance on imports as it increases production.